BOJ's Ueda warns of market turmoil if US defaults on its debt | Inquirer Business

BOJ’s Ueda warns of market turmoil if US defaults on its debt

/ 10:20 AM May 19, 2023

TOKYO  – Bank of Japan Governor Kazuo Ueda said on Friday a U.S. debt default could trigger market turmoil, and will likely have a huge impact on the global economy.

“There’s a chance it would cause turmoil in various markets … and affect a vast array of financial transactions,” Ueda told parliament, when asked by a lawmaker of the impact if Washington fails to agree on extending the U.S. debt ceiling.

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“The Bank of Japan will strive to maintain market stability based on its pledge to respond flexibly with an eye on economic, price and financial developments,” he said.

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TAGS: Bank of Japan, Debt, Default, U.S.
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